The energy titan reported an underlying replacement cost profit of $3.2 billion this morning, fueled by higher realized margins and the Hormuz blockade…
Upstream plant reliability hit 95.7%, while stronger midstream performance helped offset the impact of regional disruptions in the Middle East…
Reported profit for the quarter hit $3.8 billion, a massive swing from the $3.4 billion loss recorded in the previous quarter…
Investors are piling into the stock as BP benefits from the “rising price environment,” with Brent crude still hovering near wartime highs…
The energy crisis is a gold mine for the firms that can actually navigate the naval blockades.
32% effective tax rates haven’t stopped BP from minting billions while the rest of the world pays $4.40 at the pump.
If the Strait stays closed, BP’s “exceptional trading” becomes the new baseline for 2026.
Profit rebounds as BP (NYSE: BP) Q1 2026 earnings hit $3.8B
“BP reported a strong first quarter 2026, with profit attributable to shareholders of $3.8 billion, compared with a $3.4 billion loss in the prior quarter and $0.7 billion a year earlier.
Underlying replacement cost profit rose to $3.2 billion, more than double the prior year, driven by exceptional oil trading, higher refining margins and steady upstream production of 2,339 mboe/d. Operating cash flow was $2.9 billion after a sizeable $6.0 billion working capital build tied to rising prices and seasonal inventory.
Net debt increased to $25.3 billion, while BP maintained its quarterly dividend at 8.320 cents per share and reiterated 2026 capital expenditure of $13–13.5 billion. The company plans to cut hybrid bond capital by $4.3 billion and has agreed divestments including the Gelsenkirchen refinery and a $6 billion Castrol transaction.”